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Friday, 9 June 2017

Good monsoon may give fillip to CV loans and microfinance

Moody's Investors Service and its Indian affiliate, ICRA Limited, has said that a well-distributed and timely monsoon would be pivotal for the continued recovery in the performance of a range of retail loans impacted by demonetization.

While Moody's believes that a normal monsoon will boost the performance of commercial vehicle loans backing Indian asset-backed securities (ABS) transactions, ICRA says that a pick-up in the rural economy -- owing to a normal monsoon and government support -- would be positive for retail loan asset classes like tractor and micro finance loans.

The Indian Meteorological Department (IMD) and private forecaster Skymet have predicted a normal and well-distributed monsoon, that is, rainfall is expected at 96 per cent ± 5 per cent of the Long Period Average.